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Investments
 6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The following table summarizes the carrying value of the Company’s investments as of June 30, 2023, and December 31, 2022:
As of
June 30, 2023December 31, 2022
Fair value investments:
Securities held in Consolidated Funds(a)
$65,963,712 $54,740,993 
Company sponsored investments69,572,732 66,828,910 
Company sponsored equity method investments27,673,694 24,105,808 
Total Investments$163,210,138 $145,675,711 
(a) Of the securities held in the Consolidated Funds as of June 30, 2023, DHCM directly held $41.9 million and noncontrolling shareholders held $24.1 million. Of the securities held in the Consolidated Funds as of December 31, 2022, DHCM directly held $37.5 million and noncontrolling shareholders held $17.2 million.

As of June 30, 2023 and December 31, 2022, DHIL has consolidated the Diamond Hill International Fund.

The components of net investment income (loss) are as follows:

Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Realized (losses) gains$(12,598)$(1,713,218)$806,537 $(269,471)
Change in unrealized4,843,046 (16,769,567)10,651,217 (26,520,423)
Dividends1,530,260 863,575 3,039,548 1,631,460 
Other(84,000)(58,663)(137,856)(111,696)
Investment income (loss), net$6,276,708 $(17,677,873)$14,359,446 $(25,270,130)
Company-Sponsored Equity Method Investments
As of June 30, 2023, the Company’s equity method investments consisted of DHMF and the Diamond Hill Large Cap Concentrated Fund, and the Company’s ownership percentage in each of these investments was 85% and 44%, respectively. The Company’s ownership in DHMF and the Diamond Hill Large Cap Concentrated Fund includes $5.2 million of deferred compensation plan investments.
The following table includes the condensed summary financial information from the Company’s equity method investments as of and for the three- and six-month period ended June 30, 2023:
As of
June 30, 2023
Total assets$47,761,709 
Total liabilities2,617,688 
Net assets45,144,021 
DHCM’s portion of net assets$27,673,694 
For the Three Months EndedFor the Six Months Ended
June 30, 2023June 30, 2023
Investment income$187,934 $360,119 
Expenses57,510 112,269 
Net realized gains 370,937 375,914 
Change in unrealized 2,814,978 3,407,104 
Net income 3,316,339 4,030,868 
DHCM’s portion of net income $2,163,009 $2,823,580 
The Company’s investments at June 30, 2023 include its interest in DHMF, an unconsolidated VIE, as the Company is not deemed the primary beneficiary. The Company’s maximum risk of loss related to its involvement with DHMF is limited to the carrying value of its investment which was $16.0 million as of June 30, 2023.